Legacy Box Tackles £15 Billion Unclaimed Assets Problem in UK

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• Publié par: legacy-box
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Legacy Box Tackles £15 Billion Unclaimed Assets Problem in UK

PR Newswire CARDIFF, Wales, August 20, 2012

CARDIFF, Wales,August 20, 2012/PRNewswire/ --

UK's firstsecure online website launches as a vault for all financial arrangements £15billion of unclaimed assets in the UK Security key ensures nobody else can access the information

It is estimated that there are over £15billion unclaimed assets in the UK.* To help tackle this problem, an entrepreneur fromSouth Waleshas created the Legacy Box - the UK's first secure online website where people can store all of their personal finance arrangements. Legacy Box (http://www.legacy-box.com) allows users to create and maintain secure online records of their assets with simple to use templates and secure access. Legacy Box means that family and executors have access to complete and up-to-date records of all of a person's assets, upon their death, forming a 'living' appendix to a person's Will. Graham Marr, founder of Legacy Box, says: "I created Legacy Box because, from personal experience, I know people's financial affairs are getting more and more complex and confusing.Multiple bank accounts, pension plans, life policies, insurance documents - the list is endless. It can be hard enough for someone to keep track of it all themselves but pity the poor family member, partner or costly probate solicitor who has to track down all the information in order to deal with someone's estate after their death." In the last year alone, the treasury was handed £43 million, arising from unclaimed estates from deceased people and dissolved companies and trusts.** Cat Whiteaway, probate investigator,regular presenter and expert contributor on The One Show, Heir Hunters, Trackers and producer of BBC Radio 4's"The Fortune Hunters," knows all too well the complexity involved in dealing with a deceased person's financial affairs. Cat says: "Over the past 15 years I've seen the chaos left behind when people don't sort out their financial affairs in advance. It's not only time-consuming, it can also be confusing and often family members have no idea where to start. Legacy Box means this hassle can be avoided and also helps prevent the Government getting its hands on the money." Legacy Box uses an advanced security system, where users create their own personal key number. Nobody can view the details without this key and all data in a customer's Legacy Box, is encrypted so that not even staff at Legacy Box can access it. In addition to the benefits Legacy Box offers to families and executors upon a person's death, it is also very useful for controlling assets while a person is still alive. Legacy Box sends reminder emails out whenever a date is entered into any of the templates 'alert' settings, meaning customers can keep on top of renewal dates, fixed-rate deals and maturing bonds and savings etc. Legacy Box costs £11.99 and is renewable annually. If an account is not renewed, the information is still stored but will only be accessible upon payment of the lapsed subscription.

Case studies available upon request.

*https://www.uar.co.uk/Help/AboutLostAssets ** http://www.bonavacantia.gov.uk/upload/crown%20nominee%20account%20for%20the%20year%20ending%2031%20March%202012.pdf Notes to editors:

The Legacy Box website is secured with 256-bit Secure Sockets Layer encryption. This protects the data passing between Legacy Box and the user's web browser All user date is encrypted in Legacy Box's database using highly secure 128 bit Advanced Encryption Standard (AES) and is only readable if decrypted using the users' security key. Nobody else (including the Legacy Box administrators) can access it Legacy Box does not record sensitive information in its templates, such as passwords and PIN numbers. The information entered is the minimum required to enable a deceased person's affairs to be sorted out after death. After a small number of failed log-in attempts and account is locked for 15 minutes. This is to avoid automated 'password guessing' hacker